Wtf... By "cash" I imagine cheque/money order/etc. is encompassed in that? That makes zero sense. Now if it was purely cash money, then I could see that. I also live in Canada.
I sold My Gladiator which was paid off. And paid cash for my 2021 Cactus Gray BB. We financed our Shadow Black Base. 3% loan 5k down.
Talk to your sales rep about multiple security deposits. You can put up to 10 deposits down and it'll lower your interest rate by 1.5%
I wanted to pay certified cheque. They straight up said I cant because of laundering. I too was able to put 2k on CC for points. I dont know, I believe they could be screwing with me. My dealer is on this Forum, perhaps he will chime in :/ They mentioned also they wouldnt be able to get it over the border if I paid cash... and there would be extra fees/taxes. Im too gullible I guess and was too intimidated to speak up.
They wouldnt even let me write the cheque after credit check, which is 810. However, I believe the loan is an open loan so I dont know what would stop me from paying off the balance when it arrives. (I was "allowed" to do 40k down initially). I dont even want to ask them anything anymore as this whole purchase has been pretty hard for me to navigate to be honest. Not sure if its because its my first new car (Im 35F), or if its how they treat all customers? Who knows, its being delivered this wknd, so thats fun.
Stress relief is a big deal.
Bought and paid for has always been a stress reliever.
Please show me a savings account (from an FDIC insured institution) that is paying higher than 0.99%.If there are people that paid cash I'm going to question their intelligence level with penfed giving 0.99% APR loans
Edit: Retirement is the worst excuse one could have for paying cash for the car lol. In retirement, any income no matter how small is even MORE important than those working.
I understand this is a generational thing. Many boomers grew up to 12% mortgages and 15% auto loans, but times have changed. Borrowing money is nearly free these days, and inflation is at record levels. You absolutely should have a significant rainy day fund, but keeping tens of thousands or hundreds of thousands of dollars in cash (instead of safe CD's, high yield savings accounts, or bonds) is the best way to get left behind in 2022.
You can buy more on the secondary market, this is for initial bond purchases directly from the man.This is great info, but the max kinda stinks:
I have a DEFI savings account paying 15%.
lol no they didn't... wow. The only reason they don't want you to pay cash is because they make less money off of you. That's it. There's no weird rules about it. EDIT: I work in sales at a Ford dealership and have shipped many vehicles across the border. The only requirements are time and mileage. How you paid for the vehicle doesn't matter.
.... Im showing them this thread. I believe you. The stories I could tell of what happened and what has/hasnt been said to me during this purchase.... I just want it to be over.
